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New York's upcoming art auction sales will test the consensus that the $60 billion art market is heading towards a down cycle amid fears of a new war threatening the world economy. The collapse of the yen is forcing Japan to scale back its historic five-year, 43.5-trillion-yen defense build-up aimed at deterring a Chinese invasion of Taiwan. Japan is cutting procurement of some domestically sourced systems to prioritize the acquisition of US-made Tomahawk cruise missiles and F-35 fighter jets. The weak yen has also caused Tokyo to pull back on its biggest defense build-up since World War II as US weapons become pricier. Washington and Tokyo have announced that if tensions with China escalate, Okinawa is likely to become a war zone, but the island's strong antiwar movement refuses to accept this destruction as inevitable.
Washington and Tokyo have announced that if tensions with China escalate, Okinawa is likely to become a war zone. The islandβs strong antiwar movement refuses to accept this destruction as inevitable. https://t.co/8c7emYWVXd
The Japanese yen's plunge forces Tokyo to pull back on biggest defense build-up since World War II as US weapons get pricier https://t.co/BvMVBGJ4vn
Reuters Exclusive: "Weak yen forces Japan to shrink historic military spending plan" Japan is cutting procurement of some domestically sourced systems in order to prioritize acquisition of US made Tomahawk cruise missiles and F-35 fighter jets. https://t.co/Zd6JSQznSj
Weak Yen forces Japan to scale back historic defense spending plan https://t.co/zaVDv4cMpF https://t.co/1HVWC2XcPw
Exclusive: A collapse in the yen is forcing Japan to scale back a historic five-year, 43.5-trillion-yen defense build-up aimed at helping to deter a Chinese invasion of Taiwan https://t.co/LclkhnGgOc
Amid fears that a new war could threaten the world economy, New Yorkβs coming auction sales will test a growing consensus that the $60 billion art market is headed toward a down cycle. https://t.co/4oL0Fp1BXk